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GFL Environmental Announces US$835 million Acquisition of Assets and Expansion of U.S. Footprint
GFL Environmental Announces US$835 million Acquisition of Assets and Expansion of U.S. Foo...
About this update from Gfl Environmental Inc
[{"type":"text","content":"\n\n\n\nGFL Environmental Announces US$835 million Acquisition of Assets and Expansion of U.S. Footprint\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntaj{\nTEXT-ALIGN: JUSTIFY\n}\n\n\n\n\n\n\n\nCanada NewsWire\nVAUGHAN, ON, June 24, 2020\n\n\n\nVAUGHAN, ON, June 24, 2020 /CNW/ - GFL Environmental Inc. (NYSE and TSX: GFL) (\"GFL\" or the \"Company\"), a leading North American diversified environmental services company, today announced that it has entered into a definitive agreement to purchase a portfolio of vertically integrated solid waste collection, transfer, recycling and disposal assets (the \"Acquisition\") for an aggregate purchase price of US$835 million. \n\n \n \n \n \n \n \n\n \nThe assets to be acquired by the Company, which include 32 collection operations, 36 transfer stations and 18 landfills supported by 380 collection vehicles across 10 U.S. states, represent substantially all of the divestiture assets expected to result from the previously announced acquisition of Advanced Disposal Services, Inc. (\"ADS\") by a wholly owned subsidiary of Waste Management, Inc. (\"WM\" and such transaction, the \"WM-ADS Transaction\"). The acquired assets are expected to generate annualized revenue of approximately US$345 million.\nStrategic Benefits of the Acquisition\nThe acquired assets are expected to support GFL's continued organic growth extending its reach into new and adjacent markets and forming a base to pursue synergistic tuck-in acquisitions. GFL expects that the Acquisition will significantly expand its U.S. footprint while creating an opportunity to realize meaningful synergies and earnings accretion. The Acquisition is expected to:\nExpand GFL's Geographical Reach. The Acquisition provides GFL with an attractive opportunity to extend its geographical reach into the U.S. Midwest, through a network of vertically integrated assets with a strong regional market presence in the State of Wisconsin. Provide a Complementary Asset Network. The Acquisition brings a high-quality, complementary asset network and customer base to GFL's existing operations in the S...